+1great post this is me to a T and this ideology is the heart of what all of this is about At 6 i also was carrying a model car every where i went these turned into real cars as money and age came .. increase in value is nice enough but not anything of concern and when i walk into to my garage every morning and decide to which car to drive that day I cannot the describe the feeling i get so if the market collapsed without the usually corresponding economy falling also I would benefit greatly as i would be able to acquire a couple of dream cars now a little to pricey for me..
This thread seems to have gone a bit quiet,is this because the market is going through a 'healthy' correction right now?
Interesting to see history repeat, although how could it ever be as bad as it was before? I'm no expert on this, but was the GTO high about 14mm in the previous run up? How far back did they drop? I think I recall seeing the Cox GTO for sale at FoWash for about 4mm I believe in maybe 2004 or 2005? Seems there was a Cal Spider there as well, Brigitte Bardot? Anyone recall this? What year was this?
Good question, i guess it means more sellers than buyers,which results in prices softening somewhat,before the market gets too overheated resulting in a crash.. By how much? i have no idea,but i would imagine there a quite a few experts on here who can answer that one.
there has been something, I'm not sure at what level you call it a burst. my plane may have no correlation, but 2015 it was an easy sale at $360k, at $320k I've had it on market 9 months and barely any bites, only bites I would call "rookie" buyers that get educated when doing due diligence. I think the plane is still worth more than $300k, but everyone is afraid to buy right now. The "falling knife" analogy comes to mind which is exactly what happens in a burst.
I think what others have called this is more correct than a burst. Instead its a market normalizing and settling down. Various models will exhibit some gyrations but taken as a whole this seems like the market becoming a but more rational. I don't think burst is the right word. I do think the broader economy is kind of muddling along and I'm not sure how much correlation there is with your plane and the collector car market- especially Ferraris. I don't know the first thing about planes, but I have observed that its cars in this mid 6 figure category which your plane seems to occupy, that have a more difficult time than those which occupy higher strata and thats because the potential buyers of something in the lower price range are more affected by the ebbs and flows of the economy than those higher up. For myself, I have the cars I want and I do care if the prices move around but I accept this will happen and will enjoy my cars either way.
What happened to trash Ferrari and saying that the sky is falling? Well it's been 1 year....Super_Dave told us all exactly 1 year ago that the end is here and that we all would be praising his infinite wisdom today (since in his own words "his Ivy League pedigree and deep understanding of financial markets makes him uniquely qualified to call these things) He said he would eat his words..but alas, he is scared to utter any more words of wisdom (I do see he is in full time lurk mode) As for his partner in crime, "Brad Williams" - he went out and bought a TR...after he spent 5 years telling others not to buy Ferrari... (sigh) Classic case of "do as I say, not as I do?" I simply do not understand people like this. Spend the bulk of their time criticizing folks that buy Ferrari (on a Ferrari chat board no less) - then buy one themselves, and then change their tune...probably will sell the car at first sign of significant appreciate, only to trash Ferrari again. I think there is a name for folks like this? ttforcefed - pump and dump? and trash and buy?
ROFL, what these perma-bears don't realize is they are the mirror reflection of folks that say "it can never go down" + "stock market only goes up" they have the same mental disfunction as the zealots that are perma-bulls they are so loudly critical towards.
You obsession with them is also mind bugling. Let it go already. You even said it yourself, they havent said a word for a few days or weeks (im sure you have the logs).
Ok scratch what i said - household net worth was up almost 1 trillion in q1. Party on! Sent from my iPhone using Tapatalk
Well, I wish they would but know they won't (if they do get to 400k we'd be all in trouble and for reasons unrelated to cars). Buying an F40 for 400k in 2009 or 2010 was like buying real estate in LA in 2001/2002. Yes, prices eventually dropped but the initial run-up was such that you were never in real trouble. And that was a real bubble! Image Unavailable, Please Login
I'm just sadistic. Although here is thought exercise. Is it because I remind trolls of their past that they don't post again, or is it because they don't post again that I remind trolls of their past? hmm....
...so bottom line is, those of us who were not in the market 6-7yrs ago missed the boat correction or not.
lol sherpa knows math missed the boat if ur goal is to have bought cheaper. there's a good guy in this thread who bought his f40 2 yrs ago and he's equally as happy and fulfilled as me
You mean he doesn't spend his time on Ferrari forums lecturing us on why people that buy Ferrari cars are "pigs" and hope they get "ruined financially?" (Then buys a Ferrari a few months later) You mean he actually bought a car against Super_Dave's advice and is actually enjoying it instead of spending his time telling others why they shouldn't buy a Ferrari (on a Ferrari enthusiast site)? Sounds like a guy I would love to hang out with.
